Development and improvement of the technologies in the field of geological exploration and mining, ship building, and navigation, along with the ongoing climate changes in the Arctic region, opened the new prospects. The region is involved in the active economic activities: new sea routes, discovery of large mineral deposits for the development, expansion of the opportunities for the scientific research.

As the previous experience shows, the development of territories was often rashly in the pursuit of some resource, other natural resources and entire ecosystems were destroyed, the created economic objects caused harm to the human health and the environment, waste was accumulated, there were no conditions for normal life of people, etc.

Conducted comparison study allows to note that all the countries are unanimous in their desire to develop the Arctic region based on the integrated approach gaining maximum profit while preserving nature and creating favorable conditions for human life. Each Arctic state developed the strategy that defines the goals, objectives, priorities, and areas of activity. In the future, in pursuance of strategic documents the programs are developed on the implementation of certain areas of development, regulatory legal acts are adopted, or the existing ones are supplemented in terms of establishing the requirements for conducting economic and other activities in the Arctic region. However, the detailed analysis shows that the normative regulation is not always consistent and transparent, considers the risks of conducting business and operations in a region with specific climatic conditions and a fragile ecosystem. In connection with this, the need in improving legislation is substantiated in order to actually provide an integrated approach to the implementation of activities in the unique region.

Development and improvement of the technologies in the field of geological exploration and mining, ship building, and navigation, along with the ongoing climate changes in the Arctic region, opened the new prospects. The region is involved in the active economic activities: new sea routes, discovery of large mineral deposits for the development, expansion of the opportunities for the scientific research.

As the previous experience shows, the development of territories was often rashly in the pursuit of some resource, other natural resources and entire ecosystems were destroyed, the created economic objects caused harm to the human health and the environment, waste was accumulated, there were no conditions for normal life of people, etc.

Conducted comparison study allows to note that all the countries are unanimous in their desire to develop the Arctic region based on the integrated approach gaining maximum profit while preserving nature and creating favorable conditions for human life. Each Arctic state developed the strategy that defines the goals, objectives, priorities, and areas of activity. In the future, in pursuance of strategic documents the programs are developed on the implementation of certain areas of development, regulatory legal acts are adopted, or the existing ones are supplemented in terms of establishing the requirements for conducting economic and other activities in the Arctic region. However, the detailed analysis shows that the normative regulation is not always consistent and transparent, considers the risks of conducting business and operations in a region with specific climatic conditions and a fragile ecosystem. In connection with this, the need in improving legislation is substantiated in order to actually provide an integrated approach to the implementation of activities in the unique region.